After decades of isolation – imposed by major OECD countries out of concern for the country’s human rights violations – Myanmar is emerging as a new darling of the “West” – judging by the accelerating succession of visits by senior officials and gurus – among them the US Secretary of State, the UK Foreign Secretary, and high-level government officials from France, Norway and other countries. The UN Secretary General may pay a visit. The World Bank is being urged to resume work there – which had not been possible due to the international sanctions policy. And new groups of investors are waiting to enter the country as soon as possible. By Gabriele Köhler
This sudden enthusiasm, after years of ostracising the country and depriving it of any bi- or multilateral development cooperation save of a humanitarian nature, is a response to – much welcome – changes introduced by a government that came into power in 2011 in an orchestrated election process. Recent reforms include the release of some political prisoners, the re-constitution of the Myanmar human rights commission, the weakening of censure and an opening of internet access, the adoption of a law allowing trade unions and the right to strike, the suspension of an environmentally damaging hydropower project with China, and other steps ...
Marking the 30th anniversary of one of the world's more influential economic annuals experts pointed out that themes long sounded in UNCTAD's Trade and Development Report retain current prominence - particularly those citing the questionable wisdom of unbridled free markets.
In an open letter a global coalition of development activists and non-governmental organisations (NGOs) is calling on the World Bank's governors to ensure that the next president is chosen in an "open and merit-based process" that will give borrowing countries a major say in the selection.
After decades of isolation - imposed by major OECD countries out of concern for the country's human rights violations - Myanmar is emerging as a new darling of the "West" - judging by the accelerating succession of visits by senior officials and gurus. New groups of investors are waiting to enter the country as soon as possible.
Persistent high unemployment, the euro area debt crisis and premature fiscal austerity have already slowed global growth and factor into the possibility of a new recession. Now the United Nations have downgraded significantly its forecasts for the world economy in the next year.
Eastern European states are in for a new round of the crisis. The external control of the banking sector and high reliance on external credit has landed the countries of Eastern Europe in a vulnerable position. Now, credit flows from Western banks are drying up again. Hungary has been the first country in the region to ask for IMF support again.